This card is no longer available.

For graduates who have landed a great job and are hoping to make a dent in their student loans, the UPromise by Sallie Mae card is a great choice. The card features a generous cash back program and potentially very low rates. But individuals seeking other types of rewards would do well to look elsewhere.

Who Is the UPromise by Sallie Mae Card Designed For?

The UPromise by Sallie Mae card is linked to the UPromise program. This makes the card ideal for cardholders who want to make a dent in their student loans or who want to enhance the savings held in UPromise accounts for their offspring other beneficiaries. But since it is also a regular credit card, the UPromise by Sallie Mae card can be used for general purchases.

Are There Annual Fees?

There are no annual fees.

Does the UPromise by Sallie Mae Card Offer Rewards?

The rewards offered through the UPromise by Sallie Mae card are exclusively cash back. Online shopping earns 5 percent cash back; payment for restaurant meals earns 4 percent cash back; gas purchases earn 3 percent cash back; movies earn 2 percent cash back and all other purchases earn 1 percent cash back. There are no limits to how much cash back cardholders can earn and cash back rewards never expire. Cash back rewards can be applied toward a 529 college savings plan, deposited into a Sallie Mae high yield savings account, applied toward a Sallie Mae loan or disbursed by check once per quarter.

Are There Foreign Transaction Fees?

Foreign transactions are charged 3 percent per transaction, payable in US Dollars.

Are There Late Payment or Other Penalty Fees?

Late payment and returned payment fees for cardholders who were residents of Iowa when they opened their card accounts are limited to 15 dollars. Late payment penalties and returned payment penalties are up to 37 dollars for everyone else. Cash advances are charged either 10 dollars or 5 percent for each transaction, whichever is greater.


If you're paying off a student loan or saving money for college expenses, the UPromise by Sallie Mae card could be the answer to your prayers. Especially if your credit is especially good, your rates could be astonishingly low. But rewards seekers interested in travel related perks or merchandise will be disappointed.

  • Customer Type
  • Grace Period / Deferred Interest
  • Late Payment Penalty
  • Minimum Interest Charge
  • Returned Payment Fee
  • Foreign Currency Transaction Fee
  • No Annual Fee
  • Card Type
    • Balance Transfer
    • Rewards
  • 0% Introductory APR
  • Card Network
  • Cashback
  • Purchases APR (variable)
    14.49% - 23.49%
  • Balance Transfer APR (variable)
    14.49% - 23.49%
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